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November 20, 2014

Securities America Nabs Ex-Advisor Group Recruiter

Gary Bender spent the bulk of his career at independent broker-dealers Royal Alliance and Woodbury

Even recruiters are shifting firms these days.

Securities America has grabbed a key recruiter from the AIG-owned Advisor Group.

The independent broker-dealer, which is a unit of Ladenburg Thalmann (LTS), said early Thursday that it hired Gary Bender to become first vice president and its national director of recruiting.

“We are very excited to welcome Gary to an already deep and talented recruiting team,” said Gregg Johnson, senior vice president of branch-office development and acquisitions for Securities America, in a statement.

“We continue to manage a robust pipeline of advisors, branches and producer groups looking for a partner to help them grow their business and become more efficient and profitable,” Johnson explained. “Gary’s vast industry experience and contacts will help us continue our strong growth.”

Bender has over 30 years of experience in the financial services industry. Before joining La Vista, Nebraska-based Securities America, he held executive positions at Woodbury Financial in Oakdale, Minnesota – from May 2011 to November 2014 – and at Royal Alliance in New York (from April 2001 to April 2011 and from April 1989 to May 2000; he worked for Chase Investment Services in Chicago from May 2000 to March 2001, according to FINRA records.

“When you pair the culture of Securities America with the practice management, technology and advisor support, it demonstrates incredible recruiting opportunities now and in the long term,” Bender said in a press release. “The additional benefits from the relationship with Ladenburg Thalmann augment the offerings to advisors.”

Earlier this week, the IBD said it wrapped up its acquisition of some 205 registered representatives with Sunset Financial Services from Kansas City Life Insurance (KCLI).

“Our technology, advisory, practice management solutions and retirement income distribution programs have been well received by the advisors from Sunset Financial Services,” said Securities America CEO and President Jim Nagengast, in a statement. “We look forward to helping them become even more familiar with our offerings as they grow their practices.”

In early November, Securities America and several other firms suspended sales of some products tied to American Realty Capital Properties (ARCP) and RCS Capital (RCAP), the Phillips Edison-ARC Grocery Center REIT II and Cole Capital Properties V.

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